Fiorella Sophia Tealdo, 47, Las Vegas, Nevada, was arrested in connection with a mortgage lending fraud scheme in which three victims paid up-front fees ranging from $1,800 – $4,210 toward their mortgage loan modifications, which were never completed.
An investigation revealed that Tealdo was the main controlling person at FST Enterprises, Inc. (FST).
In or around September 2011 – September 2012, Tealdo interviewed potential clients, determined FST’s fees, and subsequently profited. FST exhibited a pattern of dishonest behavior with the victims by providing multiple assurances that FST would decrease their monthly home mortgage payments. Instead, client’s upfront fees and monies were immediately cashed or deposited by Tealdo. The victims alleged the modifications were never completed, and no refunds were given for services not rendered. Eventually, FST stopped communicating with the victims or assisting them with their mortgage loan modifications. There may be more victims of FST’s fraudulent practices.
Tealdo was charged with:
• one count of theft by material misrepresentation in the amount of $3,500 or more;
• two counts of theft by material misrepresentation in the amount of $650.00 or more;
• one count of pattern of mortgage lending fraud;
• one count of multiple transactions involving fraud and deceit in the course of enterprise or occupation; and
• three counts of mortgage lending fraud.
Tealdo was arrested on Monday, August11, 2014, and is presently in Clark County Detention Center. She is scheduled to appear in District Court, Department 6.
Nevada Attorney General Catherine Cortez Masto announced the arrest.
This case is being prosecuted by Raya M. Swift, Deputy Attorney General, with the Mortgage Fraud Unit.
“It is unacceptable for individuals to target hurting homeowners,” said Masto.
“Homeowners should know that my office offers housing assistance through our Home Again Nevada Program” Masto added. “Our housing professionals are trained on all state and federal programs to assist Nevadans, and it’s absolutely free”.